Brookline Bancorp (NASDAQ:BRKL) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a note issued to investors on Saturday. The firm set a “hold” rating on the bank’s stock.

Several other research analysts have also recently weighed in on BRKL. Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research report on Friday, December 20th. Keefe, Bruyette & Woods cut shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price objective for the company. in a research note on Tuesday, December 24th.

Brookline Bancorp Stock Performance

Shares of BRKL stock opened at $11.32 on Friday. Brookline Bancorp has a 52 week low of $8.01 and a 52 week high of $13.15. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 13.64 and a beta of 0.79. The company has a 50-day simple moving average of $12.18 and a 200 day simple moving average of $10.73. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.13 and a current ratio of 1.13.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $165.91 million during the quarter, compared to analysts’ expectations of $88.67 million. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. During the same quarter in the previous year, the company posted $0.26 earnings per share. On average, sell-side analysts predict that Brookline Bancorp will post 0.82 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BRKL. Texas Permanent School Fund Corp lifted its position in Brookline Bancorp by 38.0% during the second quarter. Texas Permanent School Fund Corp now owns 107,343 shares of the bank’s stock worth $896,000 after purchasing an additional 29,568 shares during the period. American Century Companies Inc. raised its position in shares of Brookline Bancorp by 21.1% in the 2nd quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock valued at $11,951,000 after buying an additional 249,113 shares in the last quarter. Inspire Advisors LLC bought a new stake in shares of Brookline Bancorp during the 2nd quarter worth approximately $1,298,000. Renaissance Technologies LLC boosted its position in shares of Brookline Bancorp by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,267,888 shares of the bank’s stock worth $10,587,000 after acquiring an additional 59,317 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Brookline Bancorp in the second quarter valued at approximately $115,000. Institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Company Profile

Brookline Bancorp, Inc operates as a bank holding company for the Brookline Bank that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include demand checking, NOW, money market, and savings accounts. The company’s loan portfolio primarily comprises first mortgage loans secured by commercial, multi-family, and residential real estate properties; loans to business entities comprising commercial lines of credit; loans to condominium associations; loans and leases used to finance equipment for small businesses; financing for construction and development projects; and home equity and other consumer loans.